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GuruFocus Financial Strength Rank measures how strong a company’s financial situation is. It is based on these factors

1. The debt burden that the company has as measured by its Interest coverage (current year).
2. Debt to revenue ratio. The lower, the better
3. Altman Z-score.

A company ranks high with financial strength is likely to withstand any business slowdowns and recessions.

Financial Strength : 6/10

vs
industry
vs
history
Cash to Debt 2.36
IBCP's Cash to Debt is ranked higher than
55% of the 980 Companies
in the Global Banks - Regional - US industry.

( Industry Median: 1.53 vs. IBCP: 2.36 )
Ranked among companies with meaningful Cash to Debt only.
IBCP' s 10-Year Cash to Debt Range
Min: 0.09  Med: 0.24 Max: 6.78
Current: 2.36
0.09
6.78
Equity to Asset 0.11
IBCP's Equity to Asset is ranked higher than
58% of the 1337 Companies
in the Global Banks - Regional - US industry.

( Industry Median: 0.10 vs. IBCP: 0.11 )
Ranked among companies with meaningful Equity to Asset only.
IBCP' s 10-Year Equity to Asset Range
Min: 0.03  Med: 0.07 Max: 0.11
Current: 0.11
0.03
0.11
Interest Coverage 3.45
IBCP's Interest Coverage is ranked higher than
70% of the 1255 Companies
in the Global Banks - Regional - US industry.

( Industry Median: 1.62 vs. IBCP: 3.45 )
Ranked among companies with meaningful Interest Coverage only.
IBCP' s 10-Year Interest Coverage Range
Min: 0.05  Med: 0.54 Max: 3.45
Current: 3.45
0.05
3.45
F-Score: 3
WACC vs ROIC
5.93%
9.68%
WACC
ROIC
GuruFocus Profitability Rank ranks how profitable a company is and how likely the company’s business will stay that way. It is based on these factors:

1. Operating Margin
2. Trend of the Operating Margin (5-year average). The company with an uptrend profit margin has a higher rank.
••3. Consistency of the profitability
4. Piotroski F-Score
5. Predictability Rank•

The maximum rank is 10. A rank of 7 or higher means a higher profitability and may stay that way. A rank of 3 or lower indicates that the company has had trouble to make a profit.

Profitability Rank is not directly related to the Financial Strength Rank. But if a company is consistently profitable, its financial strength will be stronger.

Profitability & Growth : 4/10

vs
industry
vs
history
Operating margin (%) 23.44
IBCP's Operating margin (%) is ranked lower than
65% of the 1405 Companies
in the Global Banks - Regional - US industry.

( Industry Median: 30.01 vs. IBCP: 23.44 )
Ranked among companies with meaningful Operating margin (%) only.
IBCP' s 10-Year Operating margin (%) Range
Min: -55.42  Med: 21.84 Max: 37.23
Current: 23.44
-55.42
37.23
Net-margin (%) 16.72
IBCP's Net-margin (%) is ranked lower than
67% of the 1405 Companies
in the Global Banks - Regional - US industry.

( Industry Median: 21.75 vs. IBCP: 16.72 )
Ranked among companies with meaningful Net-margin (%) only.
IBCP' s 10-Year Net-margin (%) Range
Min: -57.34  Med: 18.55 Max: 63.12
Current: 16.72
-57.34
63.12
ROE (%) 7.58
IBCP's ROE (%) is ranked lower than
54% of the 1407 Companies
in the Global Banks - Regional - US industry.

( Industry Median: 8.30 vs. IBCP: 7.58 )
Ranked among companies with meaningful ROE (%) only.
IBCP' s 10-Year ROE (%) Range
Min: -62.04  Med: 13.48 Max: 44.77
Current: 7.58
-62.04
44.77
ROA (%) 0.82
IBCP's ROA (%) is ranked lower than
51% of the 1416 Companies
in the Global Banks - Regional - US industry.

( Industry Median: 0.84 vs. IBCP: 0.82 )
Ranked among companies with meaningful ROA (%) only.
IBCP' s 10-Year ROA (%) Range
Min: -3.05  Med: 0.98 Max: 3.66
Current: 0.82
-3.05
3.66
ROC (Joel Greenblatt) (%) 56.38
IBCP's ROC (Joel Greenblatt) (%) is ranked lower than
60% of the 1398 Companies
in the Global Banks - Regional - US industry.

( Industry Median: 76.67 vs. IBCP: 56.38 )
Ranked among companies with meaningful ROC (Joel Greenblatt) (%) only.
IBCP' s 10-Year ROC (Joel Greenblatt) (%) Range
Min: -128.05  Med: 53.34 Max: 121.16
Current: 56.38
-128.05
121.16
Revenue Growth (3Y)(%) 32.90
IBCP's Revenue Growth (3Y)(%) is ranked higher than
96% of the 1186 Companies
in the Global Banks - Regional - US industry.

( Industry Median: 2.00 vs. IBCP: 32.90 )
Ranked among companies with meaningful Revenue Growth (3Y)(%) only.
IBCP' s 10-Year Revenue Growth (3Y)(%) Range
Min: -69.2  Med: 8.30 Max: 32.9
Current: 32.9
-69.2
32.9
» IBCP's 10-Y Financials

Financials


Revenue & Net Income
Equity & Asset
Oprt. Cash Flow & Free Cash Flow

» Details

Guru Trades

Q2 2014

IBCP Guru Trades in Q2 2014

Paul Tudor Jones Sold Out
George Soros Sold Out
Jim Simons 328,879 sh (-12.62%)
» More
Q3 2014

IBCP Guru Trades in Q3 2014

Jim Simons 288,200 sh (-12.37%)
» More
Q4 2014

IBCP Guru Trades in Q4 2014

Jim Simons 320,866 sh (+11.33%)
» More
Q1 2015

IBCP Guru Trades in Q1 2015

Jim Simons 323,410 sh (+0.79%)
» More
» Details

Insider Trades

Latest Guru Trades with IBCP

(List those with share number changes of more than 20%, or impact to portfolio more than 0.1%)

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Ratios

vs
industry
vs
history
P/E(ttm) 17.93
IBCP's P/E(ttm) is ranked lower than
68% of the 1259 Companies
in the Global Banks - Regional - US industry.

( Industry Median: 14.20 vs. IBCP: 17.93 )
Ranked among companies with meaningful P/E(ttm) only.
IBCP' s 10-Year P/E(ttm) Range
Min: 1.55  Med: 14.89 Max: 205.63
Current: 17.93
1.55
205.63
Forward P/E 15.02
IBCP's Forward P/E is ranked lower than
76% of the 710 Companies
in the Global Banks - Regional - US industry.

( Industry Median: 12.18 vs. IBCP: 15.02 )
Ranked among companies with meaningful Forward P/E only.
N/A
PE(NRI) 17.80
IBCP's PE(NRI) is ranked lower than
68% of the 1255 Companies
in the Global Banks - Regional - US industry.

( Industry Median: 14.20 vs. IBCP: 17.80 )
Ranked among companies with meaningful PE(NRI) only.
IBCP' s 10-Year PE(NRI) Range
Min: 1.6  Med: 14.66 Max: 255.67
Current: 17.8
1.6
255.67
P/B 1.29
IBCP's P/B is ranked lower than
65% of the 1359 Companies
in the Global Banks - Regional - US industry.

( Industry Median: 1.10 vs. IBCP: 1.29 )
Ranked among companies with meaningful P/B only.
IBCP' s 10-Year P/B Range
Min: 0.18  Med: 0.98 Max: 2.89
Current: 1.29
0.18
2.89
P/S 3.00
IBCP's P/S is ranked lower than
51% of the 1388 Companies
in the Global Banks - Regional - US industry.

( Industry Median: 2.94 vs. IBCP: 3.00 )
Ranked among companies with meaningful P/S only.
IBCP' s 10-Year P/S Range
Min: 0.03  Med: 1.37 Max: 4.53
Current: 3
0.03
4.53
POCF 102.07
IBCP's POCF is ranked lower than
98% of the 923 Companies
in the Global Banks - Regional - US industry.

( Industry Median: 9.67 vs. IBCP: 102.07 )
Ranked among companies with meaningful POCF only.
IBCP' s 10-Year POCF Range
Min: 0.18  Med: 7.36 Max: 101.86
Current: 102.07
0.18
101.86
EV-to-EBIT 10.34
IBCP's EV-to-EBIT is ranked higher than
69% of the 1271 Companies
in the Global Banks - Regional - US industry.

( Industry Median: 13.91 vs. IBCP: 10.34 )
Ranked among companies with meaningful EV-to-EBIT only.
IBCP' s 10-Year EV-to-EBIT Range
Min: -117.9  Med: 9.80 Max: 318.8
Current: 10.34
-117.9
318.8
Days Sales Outstanding 23.63
IBCP's Days Sales Outstanding is ranked higher than
72% of the 775 Companies
in the Global Banks - Regional - US industry.

( Industry Median: 33.80 vs. IBCP: 23.63 )
Ranked among companies with meaningful Days Sales Outstanding only.
IBCP' s 10-Year Days Sales Outstanding Range
Min: 9.97  Med: 34.27 Max: 75.58
Current: 23.63
9.97
75.58

Dividend & Buy Back

vs
industry
vs
history
Dividend Yield 1.68
IBCP's Dividend Yield is ranked lower than
72% of the 2216 Companies
in the Global Banks - Regional - US industry.

( Industry Median: 2.60 vs. IBCP: 1.68 )
Ranked among companies with meaningful Dividend Yield only.
IBCP' s 10-Year Dividend Yield Range
Min: 0.46  Med: 2.79 Max: 19.77
Current: 1.68
0.46
19.77
Dividend Payout 0.30
IBCP's Dividend Payout is ranked higher than
56% of the 1297 Companies
in the Global Banks - Regional - US industry.

( Industry Median: 0.33 vs. IBCP: 0.30 )
Ranked among companies with meaningful Dividend Payout only.
IBCP' s 10-Year Dividend Payout Range
Min: 0.07  Med: 0.36 Max: 15.04
Current: 0.3
0.07
15.04
Yield on cost (5-Year) 1.69
IBCP's Yield on cost (5-Year) is ranked lower than
74% of the 2229 Companies
in the Global Banks - Regional - US industry.

( Industry Median: 3.07 vs. IBCP: 1.69 )
Ranked among companies with meaningful Yield on cost (5-Year) only.
IBCP' s 10-Year Yield on cost (5-Year) Range
Min: 0.46  Med: 2.79 Max: 19.77
Current: 1.69
0.46
19.77
Share Buyback Rate 30.40
IBCP's Share Buyback Rate is ranked higher than
99% of the 1010 Companies
in the Global Banks - Regional - US industry.

( Industry Median: -1.90 vs. IBCP: 30.40 )
Ranked among companies with meaningful Share Buyback Rate only.
IBCP' s 10-Year Share Buyback Rate Range
Min: 30.4  Med: -0.80 Max: -211.5
Current: 30.4

Valuation & Return

vs
industry
vs
history
Price/Tangible Book 1.37
IBCP's Price/Tangible Book is ranked lower than
62% of the 1337 Companies
in the Global Banks - Regional - US industry.

( Industry Median: 1.18 vs. IBCP: 1.37 )
Ranked among companies with meaningful Price/Tangible Book only.
IBCP' s 10-Year Price/Tangible Book Range
Min: 0.32  Med: 1.79 Max: 6.73
Current: 1.37
0.32
6.73
Price/Projected FCF 1.54
IBCP's Price/Projected FCF is ranked lower than
88% of the 749 Companies
in the Global Banks - Regional - US industry.

( Industry Median: 0.68 vs. IBCP: 1.54 )
Ranked among companies with meaningful Price/Projected FCF only.
IBCP' s 10-Year Price/Projected FCF Range
Min: 0.07  Med: 0.96 Max: 3.25
Current: 1.54
0.07
3.25
Price/Median PS Value 2.19
IBCP's Price/Median PS Value is ranked lower than
96% of the 1195 Companies
in the Global Banks - Regional - US industry.

( Industry Median: 1.08 vs. IBCP: 2.19 )
Ranked among companies with meaningful Price/Median PS Value only.
IBCP' s 10-Year Price/Median PS Value Range
Min: 0.02  Med: 1.82 Max: 5.45
Current: 2.19
0.02
5.45
Price/Graham Number 1.03
IBCP's Price/Graham Number is ranked lower than
66% of the 1086 Companies
in the Global Banks - Regional - US industry.

( Industry Median: 0.86 vs. IBCP: 1.03 )
Ranked among companies with meaningful Price/Graham Number only.
IBCP' s 10-Year Price/Graham Number Range
Min: 0.1  Med: 1.20 Max: 4.15
Current: 1.03
0.1
4.15
Earnings Yield (Greenblatt) (%) 9.68
IBCP's Earnings Yield (Greenblatt) (%) is ranked higher than
72% of the 1390 Companies
in the Global Banks - Regional - US industry.

( Industry Median: 6.60 vs. IBCP: 9.68 )
Ranked among companies with meaningful Earnings Yield (Greenblatt) (%) only.
IBCP' s 10-Year Earnings Yield (Greenblatt) (%) Range
Min: 0.3  Med: 8.95 Max: 1021.3
Current: 9.68
0.3
1021.3
Forward Rate of Return (Yacktman) (%) 57.85
IBCP's Forward Rate of Return (Yacktman) (%) is ranked higher than
92% of the 764 Companies
in the Global Banks - Regional - US industry.

( Industry Median: 13.55 vs. IBCP: 57.85 )
Ranked among companies with meaningful Forward Rate of Return (Yacktman) (%) only.
IBCP' s 10-Year Forward Rate of Return (Yacktman) (%) Range
Min: -206.6  Med: 5.30 Max: 108.4
Current: 57.85
-206.6
108.4

Business Description

Industry: Banks » Banks - Regional - US
Compare:MTB, USB, PNC, PB, CFR » details
Independent Bank Corp (Ionia MI) was incorporated under the laws of the State of Michigan on September 17, 1973, for the purpose of becoming a bank holding company. It is registered under the Bank Holding Company Act of 1956 and owns the outstanding stock of Independent Bank which is organized under the laws of the State of Michigan. The Bank's activities cover all phases of banking, including checking and savings accounts, commercial lending, direct and indirect consumer financing, mortgage lending and safe deposit box services. Mepco Finance Corporation, a subsidiary of its Bank, acquires and services payment plans used by consumers to purchase vehicle service contracts provided and administered by third parties. In addition, the Bank offers title insurance services through a separate subsidiary and provides investment and insurance services through a third party agreement with Cetera Investment Services LLC. The Company's main markets are the rural and suburban communities across Lower Michigan that is served by its Bank's branch network. The Bank serves its markets through its main office and a total of 70 branches, 2 drive-thru facilities and 5 loan production offices. The Bank competes with other commercial banks, savings banks, credit unions, mortgage banking companies, securities brokerage companies, insurance companies, and money market mutual funds. The Company is subject to regulation by, the Federal Reserve under the Bank Holding Company Act.
» More Articles for IBCP

Headlines

Articles On GuruFocus.com
Independent Bank Corp. Reports Operating Results (10-K) Mar 10 2011 
Independent Bank Corp. Reports Operating Results (10-Q) Nov 04 2010 
Independent Bank Corp. Reports Operating Results (10-Q) Aug 06 2010 
Independent Bank Corp. Reports Operating Results (10-Q) May 11 2010 
Independent Bank Corp. Reports Operating Results (10-Q) Nov 06 2009 
Independent Bank Corporation Reports 2009 Second Quarter Results Jul 28 2009 
Independent Bank Corp. Reports Operating Results (10-Q) May 08 2009 
Independent Bank Corporation Reports 2008 Fourth Quarter And Full Year Results Jan 26 2009 

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